Benchmark Cuts Cineverse (NASDAQ:CNVS) Price Target to $9.00

Cineverse (NASDAQ:CNVS) had its price target reduced by Benchmark from $10.00 to $9.00 in a research report report published on Friday, MarketBeat.com reports. They currently have a speculative buy rating on the stock.

A number of other brokerages have also recently weighed in on CNVS. Wall Street Zen cut Cineverse from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cineverse in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.00.

Cineverse Stock Performance

Shares of CNVS opened at $3.19 on Friday. The stock has a 50-day simple moving average of $3.72 and a 200-day simple moving average of $4.11. The stock has a market capitalization of $60.99 million, a PE ratio of 39.88 and a beta of 1.50. Cineverse has a 1 year low of $2.13 and a 1 year high of $7.39.

Cineverse (NASDAQ:CNVS) last posted its earnings results on Thursday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The business had revenue of $12.74 million for the quarter, compared to analysts’ expectations of $10.18 million. Cineverse had a return on equity of 9.98% and a net margin of 3.89%.

Institutional Trading of Cineverse

A number of large investors have recently made changes to their positions in the stock. Naviter Wealth LLC purchased a new position in Cineverse during the first quarter worth about $33,000. Essex Investment Management Co. LLC acquired a new stake in shares of Cineverse in the first quarter valued at about $72,000. XTX Topco Ltd acquired a new stake in Cineverse during the 1st quarter valued at approximately $122,000. Jump Financial LLC acquired a new stake in Cineverse during the 1st quarter valued at approximately $37,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cineverse during the 1st quarter valued at approximately $68,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

About Cineverse

Cineverse Corp. operates as a streaming technology and entertainment company. The company operates in two segments, Cinema Equipment, and Content and Entertainment. It owns and operates streaming channels, through its proprietary technology platform. The company also delivers curated content through subscription video on demand (SVOD), dedicated ad-supported (AVOD), and ad-supported streaming linear (FAST) channels, as well as social video streaming services and audio podcasts; operates OTT streaming entertainment channels; and offers monitoring, billing, collection, and verification services.